Specialist price comparison website software provider i-Wonder Aggregator Services Limited (i-Wonder) announces record new business growth and a 28% per cent increase in turnover for its last trading year 1 May 2015 to 30 April 2016, with EBITDA increasing by 42%.
‘With access to over 80 developers, 30% of whom are located at our near-shore facility to reduce our overall burn rate, we are getting some substantial tangible wins out of our larger scale’, says Steve Young, Chief Executive Officer, i-Wonder. ‘We are very focused on scaling up the business for the next phase of growth, adding depth in every key area, to make i-Wonder’s portfolio of B2C and B2B insurance aggregation solutions accessible to as many businesses as possible.
‘The appointment of Scott Kelly, who was Head of Motor at Gocompare throughout its 6-year high growth phase, as Business Development Director is a key part of our expansion plans and, I think, a clear indication to the market of where we plan to take i-Wonder over the next 5 years.’
The i-Wonder Group produced record sales in the year, increasing its customer base of B2C aggregators, insurance companies and brokers to over 75. Its B2C white label aggregator platforms processed over £200M of GWP during the period, an increase of 30% on the previous year. Its B2B aggregator platform for brokers (the Quote Portal) processed over £110M of GWP.
Young concluded, ‘The vanilla price comparison space is very crowded now, but there are huge opportunities for i-Wonder to maximise the aggregators income per visitor by expanding the range of aggregated volume niche products. It’s true outsource and joint venture approach makes it a compelling offering for the established comparison providers who want to increase product range without sacrificing customer ownership, MI or ultimate control.’
i-Wonder announced recently that it had been selected by One Insurance Solution (part of the Brightside Group) to supply a new software solution to reduce significantly the time it takes to generate a competitive road risks quote.